Combined with the challenges they face from online commerce, this is difficult to overcome and thus I believe that a bearish rating is appropriate.Their ability to have continued along this path in the medium to long term even without the Covid-19 lockdowns would have been questionable, especially given the broad long-term decline that shopping centers have been facing from online commerce. Last Updated on July 22, 2020. Normally anything equal or above 5.01 is considered very high, with a result approaching 7.00 being even more alarming.Last week the shopping center owner Macerich followed up with another massive 70% reduction to their dividend.On top of their $3.794b of dividend payments, they have also conducted $1.24b of share buybacks net of various equity raisings. Second, investors tend to pull money out of funds rather than contributing during market declines. Most people remember 2008, where banks were the center of that financial crisis.Still, like casinos, EPR will face similar challenges. If loan losses get bad enough, it could certainly be on the table.Keep in mind that asset managers’ earnings are driven by market performance. Nasdaq quotes delayed at least 15 minutes, all others at least 20 minutes. Also take a look at FTR, STE, SPGI, GVA. At this point, Macerich is a $6 stock that is supposedly going to pay $2 in cash and stock dividends every year. Past economic recessions occurred gradually, rather than starting all at once. Export data to Excel for your own analysis.Please log in to your account or sign up in order to add this asset to your watchlist.You have already added five stocks to your watchlist. As such, vulnerable companies could take a much bigger hit this time around.There’s a whole bunch of REITs that will be cutting their dividends in coming months. Look at any real estate owner with retail exposure, and you likely have a vulnerable dividend. Whilst their situation looks considerably rosier if the impacts of working capital changes are removed from both results with the decrease then dropping to only 2.05% year on year, given the severe impacts that their tenants are facing, it would be risky to base investment decisions around these results.Once reviewing their other financial metrics, it unfortunately quickly becomes apparent that these were also already trending in an unsustainable direction well before the Covid-19 lockdowns, as both their net debt-to-EBIDTA and net debt-to-operating cash flow have been steadily increasing. Macerich will be evaluating all capital uses including the size and pace of redevelopment.On an annual basis, the move would result in ~$400M of additional retained cash.The cash component won't exceed 20% of the aggregate, or 10 cents per share.Dividend is payable on June 3, 2020 to stockholders of record on the close of business on April 22, 2020. That simply makes no sense.Not surprisingly, investors are becoming increasingly concerned about the safety of the financial system. And the crack spread — the difference between the price of crude oil and end products such as gasoline — has plummeted.
The company has grown its dividend for the last 9 consecutive years and is increasing its dividend by an average of 9.09% each year. Since the beginning of 2013 their dividend payments have totaled $3.794b, which were mostly debt-funded given that their free cash flow was only $1.174b during this same period of time.The impacts of their net debt increasing whilst their equity decreases are clearly visible through their gearing ratio, which has been steadily increasing since the end of 2013. Get short term trading ideas from the MarketBeat Idea Engine. Whilst some may believe that these are responsible for their net debt and thus leverage increasing, this is not the case since they were more than completely funded by $1.913b of divestitures net of acquisitions.It was difficult to make exact judgments regarding their liquidity since their assets and liabilities are not split into current and non-current. Now, with the virus, shares have fallen even more as people are no longer going out shopping.Macerich cut its dividend by a third recently. View our full suite of financial calendars and market data tables, all for free. Sadly, that yield may end up leading folks into a massive value trap if management operates too aggressively while its tenants’ properties remain closed down for the duration of the virus.Louis Navellier & Matt McCall debate it and name their #1 picks — FREE.Will the DOW or Bitcoin Hit 40,000 in the Next 12 Months?That said, the banks are certainly going to take some hits.